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Forex Strategy: USD/JPY Exposes 107.00 Figure

Forex Strategy: USD/JPY Exposes 107.00 Figure

2013-12-30 11:23:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • USD/JPY Technical Strategy: Pending Long
  • Prices cleared resistance at 103.94 (38.2% Fib exp), exposing 107.08 (50% Fib)
  • The rally looks overextended after nine weeks; we await a pullback to get long

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Forex_Strategy_USDJPY_Exposes_107.00_Figure_body_Picture_5.png, Forex Strategy: USD/JPY Exposes 107.00 Figure

Weekly Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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